Delta Takes 49% Stake in Virgin Atlantic

[Intra]

Delta Takes 49% Stake in Virgin Atlantic for $360 Million - NYTimes.com

...On Tuesday, Delta Air Lines signaled that it was going after that business-heavy market, agreeing to buy a 49 percent stake in Virgin Atlantic from Singapore Airlines for $360 million.The deal will provide Delta with more access to Heathrow Airport, one of the world’s busiest hubs, where takeoff and landing rights are limited because of high demand and tight capacity. New York, where all major airlines are battling to attract high-paying passengers, is the top international destination from Heathrow.
Singapore bought its stake in 2000 for £600.3 million ($966 million), but it has been dissatisfied with the returns, analysts said.....

No immediate news on how the alliance between the two airlines and Virgin Australia will play out (Probably nothing). Could affect though a Virgin airline (Finally?) joining an alliance, Delta a founding member of Skyteam...

 

[TonyHancock]

I do hope this goes ahead, and I'm particularly keen for VS to be renamed DL and join ScaryTeam. Oh how I will enjoy chatting to the wannabes in our global business who insist on flying VS. I'll encourage them to fly Scare France!